Top 6 Reasons To Buy Property During Diwali
Buy Property During Diwali- Many of you may be wondering why, around Diwali, individuals tend to buy things for their homes. There are often the most real estate transactions around this time of year. People frequently buy real estate, particularly homes, for a variety of reasons. To learn more about the benefits of buying real estate during the Diwali season, keep reading.
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Diwali is a celebration of novelty. Everybody wants to make the change from the old to the new at this time of year. Every product category experience a spike in demand as a result. At this time of year, there is a comparable boom in the real estate market. The season is an excellent time to invest in real estate for a number of reasons. The following are the main justifications for purchasing a home this Diwali:
New launches
In an attempt to draw in more consumers and sell out of stock as soon as possible, a number of large developers have been launching new projects during the Diwali holiday for the past few years. Fresh developments are frequently offered at significantly reduced costs, drawing both purchasers and real estate investors. Purchasing new releases will enable consumers to benefit from discounted costs that may eventually result in larger returns.
| The New Launches in Mumbai | New Launches in Bangalore |
| New Launches in Delhi NCR | The New Launches in Pune |
| New Launches in Chennai | New Launches in Ahmedabad |
| The New Launches in Kolkata | New Launches in Hyderabad |
Discounts from builders
The abundance of alluring deals available throughout the holiday season is another justification for purchasing real estate. Around Diwali, when demand and competition are stronger, many developers provide discounts and freebies in an effort to turn inquiries into sales. To entice customers to buy, companies give them gifts like fancy smartphones, gargets, gift cards, stamp duty waivers, two-wheelers, gold coins, furniture, free parking, and flexible payment plans. Learn about the promotions that are running during Navratri.
Lower interest rates
At this time of year, there are also a lot of bank offers flooding the market to assist prospective homeowners in making real estate investments. Diwali is the ideal time to obtain a house loan for the purchase of a property because banks typically cease their seasonal offers after Diwali. This is because banks will waive processing costs, paperwork fees, and interest rates. Several banks have provided initiatives this year to encourage the acquisition of real estate:
| Bank | Per annum interest rate | Other offers
|
| Bank of Baroda | 8.40% | Zero processing fees |
| HDFC Bank | 8.35% | Waiver on processing fees – 50% |
| Canara Bank | 8.40% | Zero processing fees |
| State Bank of India | 8.40% | Waiver on processing fees – 50% |
| PNB Housing Finance | 8.40% | Loan up to 90% of property value |
| Punjab National Bank | 8.40% | Waiver on processing fees and documentation charges: 100% |
Auspicious period
Real estate investing is seen to be at its best during the holiday season, which spans from Navratri to Diwali. In popular culture, this is the perfect time of year to buy a house and move in. Festivals honouring the goddess Laxmi & the god Kuber, who are regarded as the patron deities of riches, include Navratri, Dhan Teras, and Diwali.
Greater availability of funds
People receive pay increases and bonuses throughout the holiday season, which may increase their available cash. This frequently causes consumers to search for alluring investment opportunities. Why not select real estate and take advantage of the alluring discounted prices available? Additionally, the increased capital availability facilitates down payment payments.
Infrastructure development
The nation’s infrastructure is receiving special attention from the Indian government since it is known to have a major impact on the country’s real estate market growth. Experts suggest that now is a good moment for prospective buyers and investors to enter the real estate market because of the price corrections currently occurring in the market and the expected increase in transparency brought about by regulatory changes like the Real Estate Regulatory Authority (RERA).
This Diwali, purchasers can gain an advantage against developers and financing institutions with a range of profitable options available. By taking advantage of these deals, potential purchasers can save a significant amount of money. Prior to making any decisions, always remember to do your research and consider the potential returns in the future.
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